Point Lamp cannot be rotated - Need confirmation
Point lamp in Blender is an object that emits light from a single point to all directions. It is impossible to rotate a single point - it remains the same. You can rotate it around some other pivot like for example around the 3d Cursor, however it will only effect the location of the point light. It makes sense for it to have rotation properties, because the type of Lamp can be changed so if another type of lamp is rotated and then changed to a Point lamp it would loose the rotation information otherwise, while right now the information is kept and it can be changed back to any of the directional types pointing at the same direction.